South Africa's Sappi plans to redeem 6¾% notes due 2012, repay loan

By Melissa Kory

Cleveland, April 4 - Sappi Ltd. announced that it plans to redeem the outstanding amount of its 6¾% guaranteed notes due 2012 and repay €200 million of the outstanding borrowings under its OeKB term loan facility with proceeds from its offering of $680 million, in euros and dollars, of senior notes due 2018 and 2021.

Sappi is a Johannesburg-based producer of coated woodfree paper.

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